The purpose of the Interstate Bank Acquisition Act is to establish the conditions under which a company may acquire a New Mexico bank or a New Mexico bank holding company. In enacting it the legislature intends to avoid discrimination against out-of-state bank holding companies or foreign bank holding companies in any manner that would violate Section 3(d) of the Bank Holding Company Act.
History: Laws 1996, ch. 2, § 3.
Cross references. — For Section 3(d) of the Bank Holding Company Act, see 12 U.S.C. § 1842(d).
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 1B - Interstate Bank Acquisitions
Section 58-1B-1 - Short title.
Section 58-1B-2 - Definitions.
Section 58-1B-3 - Purpose and intent of act.
Section 58-1B-4 - Permitted acquisitions.
Section 58-1B-5 - Required application; forms.
Section 58-1B-6 - Standards for approval.
Section 58-1B-7 - Procedures relating to applications.
Section 58-1B-8 - Reports; examinations.
Section 58-1B-9 - Agency activities.
Section 58-1B-10 - Authority to issue regulations; cooperative agreements; fees.